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princeperch
The place we looked at before we bought our current gaff had a little hole in the corner of the master bedroom, our surveyor/building inspector went at it with a screwdriver and brought the whole corner of the room out... Rotten with termite damage that had been painted over... I wouldn't have minded but we knew the sellers, they then had the cheek to have a go at us because they had to repair the damage... Inspector told us to run away from it... It eventually sold six months later for $50k less than the asking price... Builder bought it, he'll fix it up and flip it...
I couldn't imagine not getting a survey...